*I may be just a tad ahead of myself, but it appears to me that most everything needed for a significant change is in place for gold, miners and the stock market generally. It appears that gold and the miners are about ready to take a much deserved breather. It also appears that the US Dollar is close to breaking to the downside, allowing the stock market to not only rise, but do so with a major propeller from the oil sector.*This first daily chart is the SPDR Gold ETF (GLD). Both the True Strength Index (TSI) and Money Flow Index (MFI) indicators are showing signs of breaking down.*Click on the charts to ENLARGE*This second chart is the Market Vectors Junior Gold Miners ETF (GDXJ). Price is painfully negative divergent from both the TSI and MFI indicators. It is difficult for me to imagine that upward price can do much on the upside from here.
*This next chart is a 4 hour look at the US Dollar, including the overnight trade bringing us up to a couple hours before the stock market opens today. In my view the US Dollar has pretty much got itself in a situation where it cannot win. ie it's inevitable it is going down....sending the stock market up.
*Finally, a 4 hour look at Brent Crude Oil, including overnight trade bringing us up to a couple hours before the stock market opens today. A significant sector of the SP-500 is the oil sector. It appears ready to kick in and lend support to a rise in the stock market.
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